via CAAI
PHNOM PENH, Dec 07, 2010 (Xinhua via COMTEX) -- Cambodia's most commercial banks are set to meet the requirement of the triple increase of the registered capital by the end of this year, said the director general of the National Bank of Cambodia, Tal Nay Im, on Wednesday.
"Our primary assessment shows that most banks have met the requirement," she told Xinhua on Wednesday.
"The process towards the triple increase of the capital by the end of this year for the banks is going well," she said. "But I cannot reveal if all the Kingdom's 30 commercial banks will meet the requirement until the deadline on Dec. 31 comes."
In September 2008, in a bid to strengthen the banks' health against any financial crisis, the National Bank of Cambodia issued a prakas, or edict, requiring all commercial banks in the kingdom to triple their registered capital from then 13 million U.S. dollars to 37.5 million U.S. dollars by Dec. 31, 2010.
The parkas excluded banks with at least one influential shareholder as a bank or financial institution with a rating " investment grade" extended by a reputable rating agency.
Thai Saphear, head of the governor's office at the NBC cabinet, told Xinhua on Wednesday that in general, the banks are in good health, but he is not sure all the banks will meet the requirement.
Copyright 2010 XINHUA NEWS AGENCY
No comments:
Post a Comment